MedTech Clearview

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Premium market growth

The Scandinavian MedTech market has experienced attractive growth rates for a long period of time, well-established international players combined with local entrepreneurs and distributors have successfully focused their strategic initiatives on organic development. However, as the market structure is changing an increasing consolidation is expected in the approx. 50 DKKbn market; highlighting three consolidation drivers.

Regulatory growth

The ability to adapt to the constant developments in regulation is crucial to maintaining market share in this fragmented market. The recent directives regarding new classifications is the latest example of the highly complex legal environment that surrounds the healthcare industry and creates significant and costly entry barriers that favours market participants with a significant size and broad product programmes.

Scandinavian's market demand

With a combination of more complex products and an increased demand of more specialist knowledge, suppliers see Scandinavia as one of the market forces distributors to grow its market position significantly, and invest in a more specialised and international organisation. An investment that needs to be utilised across a larger revenue base in order to be profitable.

Political demand for centralisation of procurement

With an increasing political focus on achieving savings in the costly healthcare industry (approx. 10% of GDP, growing by +5% year on year) procurement has been centralised in all Scandinavian markets and decreased purchasing density significantly in the public sector. With increasing single purchase volumes, the development has also led to growing complexity in both contracts and risk associated with the agreements, which together has pushed several smaller producers and distributors to look for strong strategic partners or acquirers with larger capacity and stronger negotiation power.

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Companies will see M&A as a solution to the trends

With the changing market structure, M&A is one solution to either gain significant size, the right product portfolio or the needed geographical reach and we therefore expect the ongoing consolidation within the MedTech sector to continue.

The high maintained level of M&A activity is expected to continue in the future

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